Selection of Developers for Multi-Family Affordable Housing Selection of Developers for Multi-Family Affordable Housing Request for Proposal Y7-608-GJ.

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Presentation transcript:

Selection of Developers for Multi-Family Affordable Housing Selection of Developers for Multi-Family Affordable Housing Request for Proposal Y7-608-GJ March 27, 2007

Presentation Outline Multi-Family Affordable Housing Program Financial Resources for the RFP RFP Selection Process Developer Agreements Applicant Project Location Procurement Committee Recommendations Action Requested

Multi-Family Affordable Housing Program Encourages & Facilitates the Acquisition, Construction or Rehabilitation of Multi-Family Affordable Housing Leverages Limited State and Federal Resources Since Affordable Units Created - 17 Multi-Family Developments

Financial Resources for the RFP State Housing Initiatives Partnership Program Federal HOME Investment Partnership Program State Hurricane Housing Recovery Program

RFP Selection Process Selection Criteria Credit Underwriting Report Procurement Committee

Developer Agreements Terms and Conditions for Loan/Grant Payment Request Process Restrictive Covenant for Long Term Affordability

Applicant Project Location

Procurement Committee Recommendations APPLICANTAMOUNTPROGRAM Bella Palms Senior Limited Partnership $2,000,000 SHIP The Diocese of Orlando and St. Joseph Garden Court, Inc. $500,000HOME Grand Avenue Economic Community Development Corporation (Maxwell Terrace) $500,000HHRP The Housing Authority of the City of Winter Park (Plymouth Retirement Center) $1,680,000HOME Marbella Cove II, L.L.L.P. $1,000,000 SHIP TOTAL$5,680,000

Action Requested Selection of Developers to Negotiate and Award Multi-Family Affordable Housing Developer Agreements Authorization for Purchasing and Contracts Division to Execute Agreements

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